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0001106 Escrow Funds Rec.-I Park Sale Asset
07/26/90 GL00043 Record Starker Sale of I GL 1,023,626.00
Park Land
07/27/90 GL00043 Purchase of BAD from Esc. GL 200,000.00CR
Funds
07/31/90 GL00044 Interest Income I-4 Escrow GL 902.60
08/31/90 GL00044 Interest Income I-4 Escrow GL 5,602.27
09/28/90 GL00044 Interest Income I-4 Escrow GL 5,458.39
10/05/90 GL00044 Interest Income I-4 Escrow GL 915.71
10/23/90 GL00043 Deposit for purchase of QFW GL 50,000.00CR
from Escrow
10/23/90 GL00045 Am. Natnl-Consid. for GL 50.00CR
Contract fr Escrow
11/05/90 GL00044 Interest Income I-4 Escrow GL 5,530.07
11/20/90 GL00045 Purchase 3822 Bainbridge- GL 125,000.00CR
From Escrow
11/26/90 GL00045 Dist of Excess funds from GL 50,000.00CR
I-4 Escrow
12/05/90 GL00044 Interest Income I-4 Escrow GL 4,670.58
12/11/90 GL00045 Dist of Excess I Park Esc GL 50,000.00CR
Funds to OIP
12/11/90 GL00045 Record Purchase of Vero GL 70,640.50CR
from Esc Funds
12/20/90 GL00043 Purchase of QFW from Esc. GL 490,000.00CR
Funds
01/04/91 GL00044 Interest Income I-4 Escrow GL 1,724.98
01/08/91 GL00046 Final Dist I-4 Escrow-Dist GL 12,740.10CR
Excess Funds
Totals for Account Number 0001106
.00 1,048,430.60 1,048,430.60 .00 .00
In Schedule D of petitioners' consolidated return for the
taxable year ended February 28, 1991, petitioners reported and
recognized aggregate gains in the amount of $234,360 from the
sales by OIP of lots 11 and 12 and OIP's 25-percent interests in
lots 14 and 15. Those reported gains were considered by peti-
tioners to be boot under section 1031.
Claimed Section 1033 Real Estate Transaction
During petitioners' taxable year ended February 28, 1991,
OIP owned a 50-percent interest in a partnership known as
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